NVIDIA has dumped approximately $140 million worth of ARM stock.
NVIDIA turned heads in the tech space this week when it sold the entirety of its stock in ARM Holdings, one of the tech industry’s prominent chip manufacturers.
As reported by Bloomberg, NVIDIA officially parted from its ARM stock during the fourth quarter of last year. Neither party has commented on the matter.
With NVIDIA declining to explain its decision to sell its ARM shares, financial spectators can only speculate. NVIDIA previously tried to acquire ARM for $40 billion in a deal that would’ve shaken up the tech industry, but was shot down by regulators in 2022. Shortly after, ARM went public with an IPO of its own.
ARM stock took an initial hit on the news of NVIDIA’s sale, but has since regained its losses. NVIDIA has become one of the most fascinating companies to watch during the tech industry’s AI revolution, so stick with Shacknews for more updates.
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